The Slovak biotechnological company Glycanostics is built on a strong scientific foundation, in a similar way to Pavol Čekan’s MultiplexDX. Glycanostics was founded by two respected Slovak scientists – Ján Tkáč and Tomáš Bertók – in 2017. Using their experience from prestigious foreign universities and more than 160 research papers and 3,900 citations, they rank among globally renowned experts in their field of cancer diagnostics. The two scientists aim to bring to market an accurate, non-invasive and affordable diagnostic test for prostate cancer based on a blood test – without the need for unnecessary, painful and costly biopsies that might have a negative impact on patient health. Their innovative method provably improves accuracy in comparison with the currently available methods in Europe, for which the company and its team have received numerous awards, including prestigious grants from the European Commission – ERC Proof of Concept and SME Instrument Phase 1. Glycanostics collaborates with foreign expert partners and has the support of experienced professionals from both the scientific and business communities. The company’s business success potential is strengthened by the high scalability of its product and the global commercial potential, which could help establish the foundations for a new Slovak biotech industry.
- Disruptive innovation in cancer diagnostics: A unique technology that offers more reliable and accurate results compared with competitors (82–85% reliability), a solution that is not time-consuming and technologically intensive (competitor companies offer a solution based on a service), a price-competitive solution (capable of achieving savings), and the possibility to diagnose up to 11 diseases.
- Added value and market potential: Thanks to its high scalability, the diagnostic test from Glycanostics has global commercial potential in the form of out-licensing the final product to multinational pharmaceutical companies. The solution will help create significant cost reductions for healthcare systems all over the world – savings which are becoming increasingly important in the wake of the COVID-19 pandemic.
- Social impact: By making an investment in Glycanostics, you will get the opportunity to participate in the development and application of a solution capable of saving lives, prolonging lives, and improving the quality of lives of cancer patients. In addition to that, you will get the opportunity to support the development of innovations in science and biomedicine in Slovakia, which has a growing importance in the present pandemic times.
- Attractive appreciation of the investment: The expected appreciation of the investment based on a combination of dividend yield and potential sale of the company (exit) or a share in the company.
About the investment opportunity
Investment opportunity summary
“I have been standing by Glycanostics from the very beginning and, in many ways, it reminds me of our story. The synergy between us could help lay the foundations for the emergence of a new biotech industry in Slovakia. In collaboration with the right business people and investors, this team is destined for success,” says Pavol Čekan, scientist and CEO of MultiplexDX.
Market and competitors
- The growth of global demand for diagnostic tools and technologies is driven by the increasing number of oncological cases, the ageing of populations, the fast development of the healthcare system, new technologies, and the growing need for early diagnostics.
- The burden on healthcare systems resulting from the COVID-19 pandemic is causing delays in cancer prevention and diagnostics. According to estimates from WHO, the number of deaths caused by cancer will increase by 10–15% over the next five years as a result of postponed diagnostics and treatment. The impact from this will be increased demand for new methods and solutions that will make diagnostics and screening more efficient and accurate, and allow for diagnosing cancer in a timely manner.
- Cancer is one of the main causes of death all over the world, with prostate cancer being the second most frequent oncological disease in men (the most frequent in Europe). In 2020, there were more than 1.4 million new cases and 375,000 deaths.
- Due to the widespread incidence of cancers and the broad spectrum of diagnostic tools, the motivation to enter the given market is high – there is a number of players on the market who provide tests, but these tests work on a different basis and their accuracy is much lower.
- The innovative diagnostics market is fairly young and dynamic. It includes well-established companies with a long history and infrastructure in place and a strong market position, as well as young, innovative start-ups bringing a new, more modern approach to diagnostics with the ambition to disrupt the obsolete, expensive and unreliable processes.
- The competitive edge of Glycanostics: Besides the solution’s high accuracy and specificity, it is also its compatibility with the standard PSA tests and the already-created infrastructure of laboratories that will allow for far-reaching commercial application all over the world. In combination with low costs and low time requirements, the test has the potential to be widely rolled out. In addition to that, it is the only test on the market that is able to provide a comprehensive picture of the current state of prostate tissue even after repeated biopsies (re-biopsy), meaning it allows for the monitoring of a patient after treatment is started.
Business model and customers
Trend.sk: Namiesto „vŕtania“ do tela analýza krvi: Aby biopsia nebolela
IndexSME: Slovenskí vedci vyvíjajú testy na rakovinu, stačí im analýza krvi
Pravda: Tomáš Bertók: Nemôžete sa zlepšiť, ak netrénujete
DenníkN: Chemik Ján Tkáč vyvíja test na rakovinu prostaty, aby sa ľudia vyhli nepríjemnej biopsii
Startitup: Slovenský startup zbrojí proti rakovine, chce pomôcť s včasnou diagnostikou